Be Heard Group PLC (LON:BHRD) has said that, after a challenging first half, it anticipates its content marketing agency, Kameleon will return to profitability in the final quarter of the financial year following excellent new business wins in recent weeks.
The AIM listed digital marketing services group said Kameleon secured several new clients during the second half as part of an integrated solution involving at least two Be Heard agencies.
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The firm added that, recognising the potential for greater collaboration across group agencies to drive new business development, Kameleon has relocated its team to the same office as agenda21 at Be Heard's headquarters on Frith Street in London.
Be Heard said it sees continuing benefits to both companies resulting from the move.
It added that the improved performance has come under a new leadership team led by Richard Armstrong, who co-founded Kameleon in 2008 as chief strategy officer.
Kameleon CEO changes
The firm said Armstrong has been promoted to CEO of Kameleon, replacing Mark Webster who has left the business by mutual consent.
It added that Webster's participation in any future earn out due to Kameleon vendors has also been cancelled.
Peter Scott, Be Heard’s executive chairman commented: “Kameleon's new contracts are further 'proof of concept' for Be Heard's digital marketing proposition - large, blue chip corporates are coming to us because we are connecting specialist digital skills that help clients navigate the complex customer journey.
“This is underlined by the ten clients who have chosen to engage two or more Be Heard companies so far this year.”
He added: “Be Heard enters 2018 with good momentum as a result of the new business won across the Group in the latter part of this year."
In late afternoon trading Be Heard shares were 3.6% higher at 2.88p.